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Beckman Coulter expands chemistry offerings.

Fullerton, CA 10/2/06 -- Beckman Coulter has agreed to acquire Lumigen for $185 million in cash. Lumigen develops and manufactures detection chemistries for clinical diagnostics and life science research. Lumigen had 2005 sales of $33 million, approximately 40% of which were from sales of chemiluminescent substrate to Beckman Coulter for use with its immunoassay analyzers. "Lumigen's proprietary chemiluminescent chemistry is the detection method used in our Access family of immunoassay systems," stated Richard Creager, Ph.D., vice president of Research and Development for Beckman Coulter's Immunoassay business. Beckman Coulter estimates the acquisition will be accretive to margins and to reported earnings per share by at least $0.02 in 2007. The acquisition is expected to close by November 1.

In the life science research market, Lumigen's technology is also used in products sold by Pierce, a unit of Fisher Scientific, Assay Designs, GE Healthcare and Vector Laboratories. The Oakland Business Review reports that Beckman Coulter approached Lumigen with the offer and that Lumigen's operations will remain in Southfield, Michigan and founder Paul Schaap will become general manager.
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Title Annotation:Executive Briefing: News, Trends & Market Intelligence for Instrument Executives
Publication:Instrument Business Outlook
Date:Oct 15, 2006
Words:178
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